Symphony Financial Ltd. Co. reduced its holdings in Nordson Corporation (NASDAQ:NDSN - Free Report) by 53.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,609 shares of the industrial products company's stock after selling 2,988 shares during the quarter. Symphony Financial Ltd. Co.'s holdings in Nordson were worth $526,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. New York Life Investment Management LLC increased its position in Nordson by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company's stock worth $1,530,000 after purchasing an additional 49 shares in the last quarter. Metis Global Partners LLC grew its position in shares of Nordson by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 1,811 shares of the industrial products company's stock worth $379,000 after buying an additional 69 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its position in shares of Nordson by 1.6% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 4,381 shares of the industrial products company's stock worth $884,000 after purchasing an additional 71 shares during the last quarter. Portside Wealth Group LLC increased its holdings in Nordson by 6.6% in the first quarter. Portside Wealth Group LLC now owns 1,144 shares of the industrial products company's stock valued at $239,000 after buying an additional 71 shares during the last quarter. Finally, Isthmus Partners LLC increased its holdings in shares of Nordson by 6.1% in the 4th quarter. Isthmus Partners LLC now owns 1,380 shares of the industrial products company's stock valued at $289,000 after acquiring an additional 79 shares during the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Wolfe Research began coverage on shares of Nordson in a research report on Wednesday, June 18th. They issued a "peer perform" rating on the stock. Oppenheimer upgraded shares of Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price objective on the stock in a research note on Friday, May 30th. Robert W. Baird lifted their target price on Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Wall Street Zen raised Nordson from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Vertical Research initiated coverage on Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $252.00.
Get Our Latest Report on Nordson
Nordson Stock Performance
NASDAQ NDSN traded up $0.21 on Friday, hitting $215.12. The stock had a trading volume of 510,824 shares, compared to its average volume of 328,130. The company's 50-day moving average is $202.14 and its two-hundred day moving average is $206.27. Nordson Corporation has a one year low of $165.03 and a one year high of $266.86. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 1.64 and a beta of 0.89. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72.
Nordson (NASDAQ:NDSN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. The business had revenue of $682.94 million during the quarter, compared to analyst estimates of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. On average, analysts expect that Nordson Corporation will post 10.2 earnings per share for the current year.
Nordson Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Thursday, June 19th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, June 18th. Nordson's dividend payout ratio is currently 40.10%.
Nordson Company Profile
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Free Report)
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.
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